Bitcoin sees its biggest exchange outflow since February 2023 – Restore energy?

Bitcoin once again gained momentum, surpassing the $93,000 level and signaling it in the market. After weeks of volatility and hesitation, the Bulls appear to be in control as the leading cryptocurrency pushes to new local highs. However, as macroeconomic tensions continue, the road ahead remains challenging, especially as trade conflicts between the United States and China continue to escalate. These global uncertainties continue to bridge investor sentiment in traditional and cryptocurrency markets.

Despite this hostile background, Bitcoin’s technology and chain structure seem to be increasingly optimistic. The next major goal now is a decisive breakthrough of over $100,000, and reaching this goal could mark the beginning of a major last cycle. According to CryptoQuant, the 100-day moving average of Bitcoin NetFlow from the exchange has dropped to its lowest level since February 2023. This means withdrawing more BTC from exchanges rather than deposits, often a strong signal of investor confidence and long-term holding behavior.

With outflows reaching a climax of years, it’s clear that many market participants are eased by sellers and preparing for the next game that could be the main rally – if the key resistance levels succeed in breaking in the coming days.

Bitcoin approaches key levels, re-accumulation will intensify

Bitcoin is at a critical moment. After recoupling short-term control, the Bulls aim to push prices to areas that have been high before. Confidence is slowly returning to the market, but it is still cautious. The ongoing trade war between the United States and China poses a long shadow, introducing macroeconomic risks that could put rally in trouble or further ignite if investors seek sheltered non-host assets.

Analysts have some differences on the next step. Some people think this is the beginning of Bitcoin’s new record-breaking, possibly over $109,000. Others see the current surge as a cycle top that is even unstable before wider consolidation. Obviously, Bitcoin continues to attract attention in 2025, especially in the context of geopolitical and economic instability.

Supporting this bullish outlook is new data from implicit signs. According to the platform, the 100-day moving average of Bitcoin Netflow from the exchange has dropped to its lowest level since February 2023. This suggests that BTC has flowed out the largest continuous outflow from more than a year of exchanges, often interpreted as a sign of investor re-accumulation and long-term beliefs.

Historically, similar NetFlow models have been extensively expanded before prices rise, as converted coins are often destined to be refrigerated rather than about to be sold. If this trend holds, Bitcoin could be on the verge of a major breakthrough, driven not only by technological momentum, but also by strengthening fundamentals and changing investor behavior.

BTC price stays above key support

Bitcoin is currently trading at $92,500, showing strong momentum after recovering and holding above the $90,000 mark. The Bulls are now controlling short-term price action, and reconfidence has pushed the market higher. The episode is at a critical moment as global uncertainty and macroeconomic risks continue to be in the wider financial markets.

The key technical level to focus on now is the 200-day moving average (MA), which is currently $88,700. Historically, this level is both a dynamic support and an emotional indicator. As long as Bitcoin still exceeds this threshold, there is a bullish momentum. However, a decisive closure below it could trigger a wave of sales pressure and could drop to the $80,000 range, or even reduce the intensification of risk sentiment.

Currently, the structure looks solid and the Bulls are trying to push BTC to the upcoming $95,000-$100,000 area. What investors are paying close attention to is signs of higher than current levels or breakthrough power, both of which can confirm the beginning of a broader uptrend. The next few days will be crucial to determine whether BTC can maintain this momentum or face a deeper pullback.

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